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202110926
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Last modified
12/27/2021 4:11:50 PM
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12/27/2021 4:11:48 PM
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DEEDS
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202110926
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20211002, <br />Borrower shall give Lender prompt notice of any lapse in required property insurance coverage <br />provided by the master or blanket policy. <br />In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a <br />loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower <br />are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured <br />by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. <br />C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that <br />the Owners Association maintains a public liability insurance policy acceptable in form, amount, and <br />extent of coverage to Lender. <br />D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, <br />payable to Borrower in connection with any condemnation or other taking of all or any part of <br />the Property or the common areas and facilities of the PUD, or for any conveyance in lieu of <br />condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by <br />Lender to the sums secured by the Security Instrument as provided in Section 11. <br />E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's <br />prior written consent, either partition or subdivide the Property or consent to: (i) the abandonment <br />or termination of the PUD, except for abandonment or termination required by law in the case of <br />substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent <br />domain; (ii) any amendment to any provision of the "Constituent Documents" if the provision is for <br />the express benefit of Lender; (iii) termination of professional management and assumption of self- <br />management of the Owners Association; or (iv) any action which would have the effect of rendering <br />the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. <br />F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may <br />pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of <br />Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of <br />payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be <br />payable, with interest, upon notice from Lender to Borrower requesting payment. <br />BY SiGNiNG BELOW, Borrower accepts and agrees to the terms and covenants contained in this PUD <br />Rider. <br />Borrower <br />ALHAJ AA HAMED <br />Date <br />Seal <br />HCFG-00008 <br />MULTISTATE PUD RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT <br />VMP® <br />Wolters Kluwer Financial Services 2021122217.1.0.4574-J20180529Y <br />2582108321214 <br />Form 3150 1 01 <br />05/12 <br />Page 2 of 3 <br />1111 11111 <br />
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